The cooperation is part of a plan to provide modern digital payment products and services to the bank's target customer groups who live in rural and remote areas, contributing to the realization of the Government's project on cashless payments and the national comprehensive financial strategy.

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The National Payment Corporation of Vietnam (NAPAS) collaborates with the Vietnam Bank for Social Policies to promote cashless payment in remote areas. (Photo: VietnamPlus)

Accordingly, customers can access the VBSP Smartbanking app and make quick transfers from an account opened at the VBSP to 45 member banks of NAPAS and vice versa. The clients can also create their own QR codes to receive money on the app as well as transfer money by scanning QR codes of other banks.

Money transfer/payment through the above-mentioned methods will bring a convenient, fast, and safe payment experience to clients.

NAPAS General Director Nguyen Quang Minh said this partnership will be an important step in promoting the development of cashless payment as the VBSP’s branches and customers are in all 63 provinces and cities across the country.

In the coming time, NAPAS and the VBSP will also continue to strengthen collaboration to deploy more payment products and services to better serve the demand of people and support other socio-economic activities, contributing to the country's digital transformation process, he said.

Source: VNA